Today’s NZD/USD Signals
Risk 0.50%.
Trades may only be entered from 8am New York time until 5pm Tokyo time, over the next 24-hour period.
Short Trades
- Short entry following bearish price action on the H1 time frame immediately upon the next touch of 0.6585 or 0.6645.
- Put the stop loss 1 pip above the local swing high.
- Adjust the stop loss to break even once the trade is 20 pips in profit.
- Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
Long Trades
- Long entry following bullish price action on the 1H1 time frame H1H1H1 time frame immediately upon the next touch of 0.6500 or 0.6460.
- Put the stop loss 1 pip below the local swing low.
- Adjust the stop loss to break even once the trade is 20 pips in profit.
- Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a pin bar, a doji, an outside or even just an engulfing candle with a higher close. You can exploit these levels or zones by watching the price action that occurs at the given levels.
NZD/USD Analysis
The pair continue to move within a tight range for the second day in a row, anticipating any significant developments. The overall trend remains bearish and will continue to be under pressure as fears and concerns persist in the markets. The pair is not moving aggressively higher without risk appetite. The aggravation of the global tariff war increases the strength of the US dollar. The move below the lowest support level since January 2016 at 0.6500 will increase the pair's down pressure.
There is nothing important due today concerning the USD or NZD.